Oklahoma Entrepreneur Secures Financing to Buy Dry Cleaning Station Franchise

Need a loan to purchase a Dry Cleaning Station franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Dry Cleaning Station franchise requires some effort but others before you have been successful. In 2005, Cit Small Business Lending Corp issued an SBA franchise loan to an entrepreneur in Owasso, Oklahoma. Because Dry Cleaning Station was registered with the SBA's registry of franchises, this Oklahoma small business loan was issued on an expedited basis.

SBA Loan Borrower

DRY CLEAN STATION
OWASSO, OK 74055

SBA Loan Lender

CIT SMALL BUSINESS LENDING CORP
1 CIT DRIVE
LIVINGSTON, NJ 07039

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

9/9/2005

Loan Approval Gross Amount

$347,500

Loan Approval from the SBA

Of the total $347,500 loan amount, the SBA guaranteed $260,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dry Cleaning Station franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 5 new jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Owasso OK, you ought to talk with a local Owasso SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Owasso businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cit Small Business Lending Corp are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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